Would it be legal to create new crypto?

[marcbitcoins]

I am from India and bitcoin is not illegal here nor it is regulated.Reserve Bank,the central bank,says it is still watching bitcoin revolution www.indiabitcoin.com/reserve-bank-of-india-governor-raghuram-rajan-speaks-about-bitcoin/ .
My question is if I create a cryptocurruncy (Some new Alt coin),will I be doing something illegal? Can I be put behind bars for creating a parallel currency,if it gets widely accepted?

If bitcoin and altcoins are legal in your country then it is your right to facilitate or create of your own coin thru ICO because there is policy or guidelines that need to be follow if you want to create of your own ICO in which the guideline is according to your regulation policy in order for the government to determine the legality of your coin. If your intentions are good for making your own ICO then nothing to worry because you are abiding your ICO policy.

[warrior333]

It seems to me that the coins already there is such high competition that it can be very difficult. Even if you have no intention originally to create a Scam but the local people do not have available funds to invest in your project can turn it into a Scam. Maybe you should try to trade for bitcoins. This niche is now completely free.

[genolica]

I am from India and bitcoin is not illegal here nor it is regulated.Reserve Bank,the central bank,says it is still watching bitcoin revolution www.indiabitcoin.com/reserve-bank-of-india-governor-raghuram-rajan-speaks-about-bitcoin/ .
My question is if I create a cryptocurruncy (Some new Alt coin),will I be doing something illegal? Can I be put behind bars for creating a parallel currency,if it gets widely accepted?

as you already said, it was not regulated yet so you can't get arrested. but i think it is already near that in the future it will be recognized by the government.

[Carmen01]

Yes its legal and its more good because the more crypto the more crypto transaction so many job are going to have if that happen.I think if the crypto is already legal and acknowledge in your country you can create also a new crypto.See the many trading site there's a lot of coins here and they authorized in different country

[MoonJeina]

I am from India and bitcoin is not illegal here nor it is regulated.Reserve Bank,the central bank,says it is still watching bitcoin revolution www.indiabitcoin.com/reserve-bank-of-india-governor-raghuram-rajan-speaks-about-bitcoin/ .
My question is if I create a cryptocurruncy (Some new Alt coin),will I be doing something illegal? Can I be put behind bars for creating a parallel currency,if it gets widely accepted?

I think if you have the freedom to create a new crypto if your country does not regulate it . There are many alt coins present in the market at the moment . I don't think that even 20% of them seek permission legally from their government . Moreover , if there are no stated laws then obviously it will not be a major offense to create your own crypto .
You can also consult some financial advisor .That will be a wiser attempt to this discussion.       

[bitcoinvamp]

I am from India and bitcoin is not illegal here nor it is regulated.Reserve Bank,the central bank,says it is still watching bitcoin revolution www.indiabitcoin.com/reserve-bank-of-india-governor-raghuram-rajan-speaks-about-bitcoin/ .
My question is if I create a cryptocurruncy (Some new Alt coin),will I be doing something illegal? Can I be put behind bars for creating a parallel currency,if it gets widely accepted?

There is absolutely nothing wrong with creating any new altcoin as there are many people in India who are regulating and building there own crypto (for instance we have lala coin in India) . It is not illegal until you miss use it to earn money. This will lead you behind bars. Other than that its safe to launch Altcoin .

[1969Dave]

Don't think it's illegal, they are still discussing what it is: an equity, a commodity or a security. I wouldn't worry about this question too much ..

[M_Haris]

Yes it legal, until trading of concurrency is considered legal in India.

[Proton2233]

It seems to me that the creation of new coins is no problem. Even if your country is banned you can host your website and wallet in any jurisdiction. But in most countries now there are no direct prohibitions. Governments do not know how to deal with the invasion of cryptocurrency and so now they are developing a mechanism that allows you to control this process.

[LyQaN]

you have yourself said that bitcoin is not illegal , so you totally have the right to make any crypto currency, many alt coin are being introduced if you able to make it popular,then it would get in eyes of government there might be some regulations or rules imposed on it but as per current scenario of legality in the country it won't be illegal thing to do.

[Rajamuda]

Altcoins is crypto currency of course, and it's obviously all of that includes those related with crypto currency that has been declared not illegal. And it's good.. even though it's has been legal.. stay can be to avoid for criminality or scams. Just do it, and good luck on your project.

[MerrickMaverick]

As always - consult with a lawyer, especially in Asian countries, which are notorious for their harsh laws.

[btc-facebook]

As always - consult with a lawyer, especially in Asian countries, which are notorious for their harsh laws.

Unfortunately my government decide to make a new regulation on 2018 so it's impossible to use crypto as main transaction.
Because of this decision, my developer can't spend their money to create new altcoin on my place since my government is not support it !

[ehrz22]

Don't think it's illegal, they are still discussing what it is: an equity, a commodity or a security. I wouldn't worry about this question too much ..

Yes, actually there are lots of new cryptos now. They are not considered illegal but not are not considered legal too at the same time. Yes, we don't really need to worry about that, what needs to worry is that existing cryptos with unstable price now.

[Siren]

Don't think it's illegal, they are still discussing what it is: an equity, a commodity or a security. I wouldn't worry about this question too much ..

Yes, actually there are lots of new cryptos now. They are not considered illegal but not are not considered legal too at the same time. Yes, we don't really need to worry about that, what needs to worry is that existing cryptos with unstable price now.

So what you are saying is that they are somewhat on the category of gray area. But for me, if simple creating a coin is not legal per se, unless you are inside a nation which crypto's are totally ban.

But if you are in a crypto friendly nation, there's no doubt that creating new coins is legal. Heck even government are creating a government backed coins so it doesn't make sense that creating new crypto will be an outright illegal.

And I agree with @MerrickMaverick, consulting a lawyer is another layer of protection for you, if you really wanted to build your own crypto. He will give you sound advise to prevent future problems on your end.

[Belkaa]

I also wonder about the legitimacy of a currency not based on a geo-political entity because the base is only a thought and can disappear significantly faster than physical matter. The same may be said of bearer bonds; is that legitimacy of the paper just another popularity contest given that secrets/technology of making quality paper are more transferrable over time.

[tomwalsh]

I am from India and bitcoin is not illegal here nor it is regulated.Reserve Bank,the central bank,says it is still watching bitcoin revolution www.indiabitcoin.com/reserve-bank-of-india-governor-raghuram-rajan-speaks-about-bitcoin/ .
My question is if I create a cryptocurruncy (Some new Alt coin),will I be doing something illegal? Can I be put behind bars for creating a parallel currency,if it gets widely accepted?

You just have to be careful how you market it.

Making false claims as to how fast it will grow in value or misleading people who buy it in any way may cause you difficulties.

No one will complain when things are going right but when things go wrong they will come for your head unless you have covered yourself.
Partner up with someone who has studied a=or practices law, they may be able to guide you through any problems.

[Zadicar]

I am from India and bitcoin is not illegal here nor it is regulated.Reserve Bank,the central bank,says it is still watching bitcoin revolution www.indiabitcoin.com/reserve-bank-of-india-governor-raghuram-rajan-speaks-about-bitcoin/ .
My question is if I create a cryptocurruncy (Some new Alt coin),will I be doing something illegal? Can I be put behind bars for creating a parallel currency,if it gets widely accepted?

You just have to be careful how you market it.

Making false claims as to how fast it will grow in value or misleading people who buy it in any way may cause you difficulties.

No one will complain when things are going right but when things go wrong they will come for your head unless you have covered yourself.
Partner up with someone who has studied a=or practices law, they may be able to guide you through any problems.

It would be a good option but wont really be necessary at all since it has being mentioned that bitcoin isn't illegal on their country which would result if he tend to make a new coin it would really be just fine but in the fact that we should not really violate or step up on they do govern things because once you have done such thing then expect they would really make actions against you. For me it just still fine as long you do know on how to market it on right way and wont really violate any laws along the way.

[ahmad21]

I am from India and bitcoin is not illegal here nor it is regulated.Reserve Bank,the central bank,says it is still watching bitcoin revolution www.indiabitcoin.com/reserve-bank-of-india-governor-raghuram-rajan-speaks-about-bitcoin/ .
My question is if I create a cryptocurruncy (Some new Alt coin),will I be doing something illegal? Can I be put behind bars for creating a parallel currency,if it gets widely accepted?

I am from India too. Currently no authority governs bitcoin so surely it isn't illegal in this way. Then comes the question of our bank. RBI stated that its not legal but didn't expressly claimed it as illegal which means you can't be fined or arrested or be held guilty for holding or raising bitcoins. But in India we have bigger problems. Even if you create another coin by raising an ICO how in this world you will convert such amount into INR. Moreover its almost unexplainable that you have raised such funds so it will be treated as your income so you have to pay your income tax onto it.

[dogandogru]

yes absolutely legal. There is no such guidelines that stop you from creating or investing in a ICO in India. Many Indian crypto enthusiast are working in some way or other to create their own ICO to raise crowd-funding for the concept they have in their mind.
Indicoin – India’s first ICO was launched on 1st October, 2017.